· To undertake enterprise-wide risk assessment to identify the key risks faced by Ribbon PLC, provide risk weightage, set KRIs, measure and monitor the same.
· To fulfil second line responsibilities in providing good challenge, support and risk opinions on risk event management matters of the firm.
· Development and maintenance of Risk management framework which includes policy and framework developments; Defining Risk Appetite statement and Risk limits; Risk control self-Assessments (RCSAs); Key Risk Indicator (KRI) identification and implementations; collection, analysis, and reporting of OR incidents; Outsourcing policy/ Third party risk management; Business Continuity Plan (BCP).
· Review the new and existing products/processes to ascertain all risk issues have been identified and mitigated/controlled.
· Identification and monitoring of Supplier Risk /Vendor risks through risk assessment templates and key performance indicators.
· To carry out this function in accordance with requirements laid down by Gibraltar Financial Services Commission (GFSC).
· Reporting to the Board and internal committees on Ribbon PLC’s on the key and emerging risk trends observed, effectiveness of internal controls any other matters which the Board needs to be notified about.
· Review the Risk Management Policy at least annually and get the amendments approved from the Ribbon PLC Board.
· Identify, investigate, and resolve breaches and inform the Board and relevant authority of any the same.
· Training and increasing awareness in the staff members about the best Risk Management practices.